First, investors added more than $9 billion to Tesla’s value on the back of a net profit of $143 million and free cash flow of $371 million. The profit and free cash flow figures also require scrutiny. Despite a slight drop in revenue, Tesla’s pre-tax profit swung up by almost $550 million from the second quarter. Capex came in $225 million below that level, equivalent to 61% of the free cash flow. Ditto for a few hundred million of free cash flow largely explained by below-guidance capex.

Source: Washington Post October 24, 2019 00:45 UTC